Simplified rules intended to better target aggressive offshore tax planning schemes
CRA conducting audits involving advisors at the firm
The controversial Income Tax Act section is now two decades old; when will it be clear?
Money sitting in undeclared offshore accounts is estimated to be in the trillions
Measures include bigger penalties
IRS reaches deal to access as to accounts that U.S. investors might have used to avoid taxes
Interest found not to be deductible as taxpayer did not take proper formal steps to achieve the substitution
Voluntary Disclosure Program nets more than $373 million in assessed additional taxes
Tax agency reports surge in questionable RRSP and RRIF tax-free withdrawal schemes
New deadline is April 1